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IVA & DRO

Discussions here cover two debt management solutions - Individual Voluntary Arrangements (IVA) or Debt Relief Orders (DRO).

Remortgage for IVA
Hi can anyone help please Next year is our 5th year into our IVA so I know they will ask us to try and remortgage, We really don't want to and would prefer the extra year of payments What are the chances of us being accepted, we will be about 9 years away from finishing our mortgage and would owe around £40.000 on it so…
IVA Company Help
Having researched our options, we have decided that IVA is the right route for us & have been advised the same by Stepchange. However, we thought that Stepchange would deal with our IVA in-house, but when the advisor said she would arrange an appointment with the IVA team, that turned out to be Creditfix, who we are due to…
During and end of DRO
I am in the process of removing my head out of the sand regarding my debt. I have searched forums and internet for people's personal experiences of a DRO. Can anyone tell me what checks the IV service did during and at end of their DRO and if you were required to show bank statements or payslips after the DRO was issued. I…
Wife’s IVA expiring
Hi guys my wife has an IVA which ends on 20th Feb according to the Insolvency register. A few weeks ago she received her annual income and expenditure questionnaire. Which she returned, nothing had changed since the previous years I&E It’s getting increasingly close to the end date of the IVA, but she’s worrying because…
NatWest Current Account post-IVA closure
A brief overview.... entered in to IVA in September 2017, got discharged in October last year after a F&F settlement was accepted. NatWest put my 2 current accounts in to a 'Foundation Account' from their standard and Advantage Gold accounts - which I was aware that they would, however, I have recently just requested to…
IVA or Secured Loan Help
Hello, I am new to the forum and looking for some advice from people who have been in a similar position. After a prolonged period of severe illness, we have found ourselves unable to carry on paying off our credit card debt. We have never missed a payment, but it is spiralling out of control and we have to stop burying…
Job application asking if been declared bankrupt?
I am in the middle of applying for a position with my local police force and on the application it's asking if I've ever been bankrupt. When I have applied for previous positions there, I've always selected No. I emailed the Recruitment team/HR to ask that should I put Yes to that question as I am in an IVA, and they…
Working....
Hi. I have a friend in a bit of trouble with finances. I have mentioned a DRO might be an option for her but am not sure if you can have one if you work part time? If on paper when working you still have less then £75 I think it is now. Can she get a DRO? I take it that this leftover amount when working the finances out…
DRO ....
Helping a lady seeking a DRO, she rang Quality Insolvency Services before asking me and im not sure they do the DRO referral or just try selling an IVA service? She fits the profile for a DRO regards debts/income/assets but they got a bit shirty with her demanding 3 months bank statements (she has no bank, her brother lets…
DRO Application Requirements
How many wage slips and bank statements do I need to apply for a DRO?? Is there anything else I need?
DRO and Very
Hi, So I was granted a DRO a few months ago and I also have an open Very account that I never used. I'm wondering, am I able to use the BNPL scheme with having the DRO?
Using credit while in a dro
Hi there I am in a dro and my gas and electricity is running out and low on food I do not have any money till next Wednesday but I have a credit cards with a zero balance on it, am I able to use it?
Working at the end of a DRO
Hi everyone, to cut to the chase skip to the bit in bold. It’s been a rough year. In early November 2020 I lost my job to the pandemic. I didn’t have much debt really, about £1200 on my credit card from a £2700 limit but I had some furniture and electronics on finance and kitting out a whole new house. I didn’t have any…
DRO nerves and concerns
Hiya. I’m new to using the forum but over the last few days I have read every DRO post I can find. Me and my husband have struggled with debt for a very long time in that vicious circle of consolidation, borrowing, transferring etc. Preciously under a DMP via pay plan which was semi successful then we paid it off with a…
DRO and benefits
Hi, I will have a benefit increase by £50 in April in every month and I have sent my application off for a DRO. Will this cause my DRO to be revoked?
chased by a debt company
Question for some help for my sister. She signed as a guarantor of her ex-husbands company (husband at the time) in February 2018, she was then taken off the company as a director or person of significant power in March 2018. Her ex-husband hadn’t paid the loan since 2020 and they had chased him, he said he paid £1000 and…
Iva mistake - think it may fail
Hi, ive had a big mistake with my iva. I’m coming up to my year review, I started a new job in June and started earning more money through overtime and bonus. I knew I had to pay some of that into the iva but I thought it was looked at at the yearly review and then the extra added on. I was unaware I needed to inform them…
Changes need to be made to DRO
Hi all, I submitted a DRO application with Step Change in December and things seemed to be going fine. I had an email asking me to check everything was fine and what to do next. I was told to pay the £90 fee and then to call them 5 working days after payment as they had to speak to me before they could submit it I paid the…
Thinking about an IVA for mum & have questions please
Personally, I think my mum has a psychological compulsion that requires her to spend money to try and buy happiness. She went from a very healthy bank balance in 2000 when my father died, to having £33k worth of debt now. How she kept getting finance at her age and when she was already in debt is beyond me, but that’s…
11 months in IVA wanting to offer F&F
Hello all, It’s been a while since I’ve been on this thread. Just been plodding along with the IVA. I’m 10 months in (11 in a few weeks time) is this okay to offer a full and final settlement? I have many personal reasons as to why I want to just finish this IVA asap and a family member is willing to pay this off for me.…

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IVA & DRO

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